OnlyFans, the platform best known for adult content, is in advanced talks to sell a minority stake to Architect Capital in a deal that would value the British company at more than US$3 billion (S$3.82 billion).
The deal, which could be agreed as soon as May, would see San Francisco-based fund Architect buy less than 20 per cent of the business, which is operated by UK-based Fenix International, according to a person familiar with the matter.
The proposed stake sale follows the death in March of OnlyFans owner Leonid Radvinsky at 43 years old. Shares in the company are held by his family trust. The Financial Times first reported the advanced discussions.
As part of the deal, Architect would work with OnlyFans to develop new financial services and products to offer the platform’s creators, said the person, who asked not to be identified discussing private talks.
OnlyFans declined to comment. Architect did not immediately respond to a request for comment.
Founded in 2016 by British father and son Guy and Tim Stokely, OnlyFans hosted pornographic material forbidden on most social networks. Reclusive Florida-based billionaire Radvinsky bought a majority stake in the platform in 2018 and turned it into a cultural phenomenon by allowing creators to charge directly for their content.
It shot to prominence during pandemic lockdowns, when adult film actors and sex workers turned to the platform for alternative sources of income.
OnlyFans has been exploring a sale of part of its business for at least a year, but progress has been slow.
The company generates significant revenue and a generous dividend for its owner, but its association with sex work has narrowed the field of potential investors, deterring mainstream funds and institutions concerned about reputational risk and regulatory scrutiny.
Mr Radvinsky had sought to sell a 60 per cent stake that would give OnlyFans an enterprise value of around US$5.5 billion. Architect Capital, a little-known investment firm, held talks to lead an offer for equity and around US$2 billion in debt, Bloomberg News previously reported.
The current lower proposed valuation represents a discount from not having a majority stake, according to the person. Architect would fund the proposed transaction by pooling capital from external investors through a special purpose vehicle, the person said.
Mr Radvinsky paid himself about US$1.8 billion in dividends from the platform since 2021. His net worth was valued at US$3.8 billion as at May 2025, according to the Bloomberg Billionaires Index, before OnlyFans disclosed a dividend payment of US$700 million to Mr Radvinsky in August.
OnlyFans takes a 20 per cent fee on most subscriptions and content sold on the platform. In 2024, the company reported more than 4.6 million creator accounts and some 377 million fans, posting revenue of US$1.4 billion.
While the company has tried recruiting more mainstream posters, like celebrity chefs and athletes, it remains chiefly known for its adult content. BLOOMBERG
